Posted on 12/24/2008 6:12:18 AM PST by abb
Earlier this month, executives at the New York Times (NYT) warned investors that they had a miserable November. They weren’t kidding.
The grim details are here, but I’ll save you some time:
* Revenue was down 13.9%, an acceleration from October’s 9.4% drop. * Ad revenue was down 20.9%, an acceleration from October’s 16.2% drop. * The really awful news: Internet ad revenue and overall Internet revenue actually declined in November, down 3.8% and 2.6%, respectively.
In the good old days of 2007, the Times could at least say that while print revenue growth was slowing to a halt, Internet ad sales were growing quickly. By last month, the best thing you could say about Internet revenue at the Times was that it was still growing.. a little bit. Now that’s gone, too.
For the record, the Times says that it was still able to register “moderate” display ad growth at its newspapers, but that its online classifieds and real estate ads had gotten crushed, for obvious reasons. And over at About.com, which until now has been the bright spot on the Times’ financials, display ads shrank, wiping out out “moderate” growth in cost-per click ads.
And expect more of the same in December and in 2009. Martin Nisenholtz, the Times digital boss, has already warned investors that the “softness in November” would “accelerate.. into December” and that “next year is going to be a different year, by a fairly profound margin.”
Per usual, the one bit of good news in the Times’ numbers is that its readers continue to value its publications enough to pay for them: Circulation revenues increased 4.2%. But if the Times can’t convince advertisers to pay, too, that’s not going to matter. Happy holidays!
ping
Beautiful.
http://biz.yahoo.com/bw/081224/20081224005057.html?.v=1
The New York Times Company Reports November Revenues
Nice gift for my stocking. Thank you! ;)
Clearly they are suffering from a case of:
Post-Election Obama-Shilling Fatigue Syndrome.
From our good FRiend governsleastgovernsbest!
http://www.freerepublic.com/focus/f-news/2153705/posts
Williams Bewails Decline of ‘Classically-Trained’ Journos, Rise of Guys With ‘Opinion And a Modem’
Wonderful news!
I can’t wait until that worthless rag bites the dust.
To the New York Times:
My heartiest congratulations on your imminent demise! You have richly earned it!
Dear God,
Let there be peace on earth and goodwill toward men.
Let the light of Your love shine down upon us.
Let the New York Times die a miserable death.
Thank you.
Geez, coughing up blood and they still don’t get it!
Merry Christmas to you too, abb!
Someone here once said that the Left are the only ones who can consistently shoot themselves in the foot, then compliment themselves on their aim.
The NYT’s readership was reduced to people with Bush Rage. Now that Bush is gone, hopefully they’ll go bankrupt and all those smug reporters and editors will end up in the unemployment line, have to sell their Manhattan condos and have to move to a rowhouse in some blue collar, working-class town where people put plastic Santas on their lawn for Christmas.
I’m thinking “sucking chest wound.”
The people don’ like your arrogant a$$e$ NYTs. Don’t let the door; oh well, you know.
Everyone on board here should quickly cancel their newspaper subscriptions today in order to give the MSM a Christmas Present.
I canceled my Gannett subscription months ago.
Merry Christmas everone here!
We can only pray that the NYT goes down. I heard or read somehere that we can expect CBS to go down in 2009, finally exacting retribution in exchange for the betrayal of America and our RVN allies by Walter Cronkite in 1968. Now, if we could see Keith Olbermann and Chris Mathews be destroyed, so much the better.
if you are down during the most ‘historic’ election in recent history then forget it.
Great news, but what are the odds of a Dinosaur Media Bailout bill, once the leftist politicians realize that their perennial enablers are in serious trouble?
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